Polyamide 6 Market to Experience Sluggish Growth Due to Stringent Industrial Regulations: TMR
ALBANY, New York, Feb. 5, 2019 /PRNewswire/ -- According to Transparency Market Research, the global polyamide 6 market is estimated to have a sluggish growth in the tenure of forecast period from 2017 to 2026. The market is estimated to project a slow CAGR of 3.5% in the coming years. In the span of forthcoming years, the polyamide 6 market is likely to peg the sales of more than 7,690 metric tons by the end of forecast period. Stringent industrial rules are expected to keep on creating hindrance in large-scale polyamide 6 production. The key players operating in the global polyamide 6 market are DSM Engineering Plastics, BASF SE, Grupa Azoty, Ube Industries, Ltd., Honeywell International Inc., Nycoa, Techmer PM LLC, Polymeric Resources Corporation (Nylene), EMS-Grivory, Evonik Industries AG, Arkema Group, SABIC, Lanxess AG, Asahi Kasei Corporation, and A. Schulman, Inc. These firms are likely to experience the backlash of the sluggish market growth.
Based on the products, the global polyamide 6 market is foreseen to experience a steady growth in the textile segment and polyamide 6 engineered resin, in terms of revenue. Aggregately, in 2017, more than 4,300 metric tons polyamide 6 was sold out all over the world under these product types. As indicated by the regional study, the production of global polyamide 6 will remain concentered in the Asia-Pacific region. Supportive industrial controls in Asia Pacific nations, for example, South Korea, China, and India will encourage large production of polyamide 6 materials.
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Rising Demand for Competent Synthetic Materials to Fuel Market Growth
Surging demand for skilled chemical materials and polymers over various end-use sectors has fueled the overall production of polyamide 6. The semi-crystalline compound of polyamide 6 materials keeps them at the cutting edge of industrial applications of polymers. Nevertheless, stringency in the mass-scale production of polyamide 6 has turned into a key restriction for the development of the global polyamide 6 market. Policies related to environment protection keep on hampering the making of polyamide 6, which involves the discharge of VOCs and lethal gases. This has hindered the volume-based shares of polyamide 6 since past few years.
The demand regarding polyamide 6 is estimated to remain usually consolidated in the automobile business. The compelling utilization of polyamide 6-based clothing material in the making of automobile materials will keep on calculating their developing applications in this modern vertical.
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Increased Usage in Sportswear Material to Augment Demand
With the surge in the demand for amide-based monomers over numerous end-use ventures, polyamide 6 materials keep on developing as a standout amongst the most capable industrial polymer. From abrasion linings to carpets, polyamide 6 materials have been broadly utilized in a various applications. Throughout the years, the rising utilization of polyamide 6, which is even called nylon 6, in sportswear and automobile materials has make new development roads for the global polyamide 6 market.
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The review is based on the findings of a report by Transparency Market Research, titled "Polyamide 6 Market - (Product Type - Polyamide 6 Engineering Resin, BCF & Staple, High Ten Yarn, and Textile Filament; Commercial Grade - Fiber Grade, Injection Molding Grade, and Extrusion Grade; Applications - Automotive, Electrical & Electronics, Appliances, Films & Coatings, Wires & Cables, Consumer Goods, Industrial Machinery, and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026."
The Global Polymer 6 Market has been segmented as presented below:
Global Polymer 6 Market: Based on Region
- North America
o U.S.
o Canada
- Europe
o U.K.
o Italy
o Spain
o France
o Germany
o Rest Of Europe
- Asia Pacific
o China
o India
o ASEAN
o Japan
o Rest Of Asia Pacific
- Latin America
o Brazil
o Mexico
o Rest of South America
- Middle East & Africa (MEA)
o GCC
o South Africa
o Rest of MEA
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